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प्रश्न
Krish and Tarun are partners in a firm with capitals of ₹ 40,000 and ₹ 60,000. As per their partnership deed:
- Interest on capital is to be allowed to them @ 5% per annum.
- Profits are to be shared in the ratio of 3 : 2.
The trading profits for the year 2023-24 was ₹ 3,600. You are required to calculate the interest on capital allowed to the partners in the year 2023-24.
उत्तर
Given: Profit = ₹ 3,600
Krish's capital ratio = `(₹ 40,000)/(₹ 1,00,000)` = 40%
Tarun's capital ratio = `(₹ 60,000)/(₹ 1,00,000)` = 60%
We know,
Interest = Profit × Capital Ratio
Krish's Share of Profit:
Interest = `3,600 xx 40/100`
∴ Krish's Share of Profit = ₹ 1,440
Tarun's Share of Profit:
Interest = `3,600 xx 60/100`
∴ Tarun's Share of Profit = ₹ 2,160
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Tanuj and Ravi are partners in a business with capital balances of ₹ 1,50,000 and ₹ 1,00,000 respectively on 1st April, 2022.
Their partnership deed contains the following clauses:
- Interest on capital to be allowed @ 10% per annum.
- Interest on drawings to be charged @ 4% per annum.
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Additional information:
During the year 2022-23:
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You are required to do the following:
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- The permanent withdrawal made by Ravi.
- The distribution of the divisible profits between the partners.
- The adjusting entry for commission due to Ravi.
- Calculate the interest on capital allowed to:
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- Calculate the interest on drawings charged from Tanuj.
Deepa, Ridhi and Adit are partners in a firm. Following are the particulars of their Capital and Drawings Accounts for the year 2023-24:
| Particulars | Deepa (₹) | Ridhi (₹) | Adit (₹) |
| Capital as on 1st April, 2023 | 1,00,000 | 80,000 | 20,000 (Dr.) |
| Drawings (in two instalments of ₹ 7,500 each made at the end of every half year) | - | 15,000 | - |
| Interest free loan from the firm | - | - | 5,000 |
According to their partnership deed:
- Profits were to be shared in the ratio of 2 : 2 : 1
- Interest on capital to be allowed @ 5% per annum
- Interest on drawings to be charged @ 8% per annum
The trading profits of the firm for the financial year 2023-24 were ₹ 50,000, before considering the discrepancy of having recorded the inventory at ₹ 10,000 when its realisable value was ₹ 4,000.
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- The entry to close the Adit’s Loan A/c
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